Basic Attention Token Price Plummet Continues as Technical Fundamentals Indicate More Pain
Even though a lot of people had high hopes or the Basic Attention Token price, things often turn out very differently. In the case of BAT this weekend, things are not looking all that great, especially because the price continues to take a battering in fairly quick succession. No new highs will be noted by the look of things, and it seems the Coinbase effect will keep dragging BAT down even further.
Basic Attention Token Price Onslaught Continues
It is rather crucial to see how things have evolved for BAT. This altcoin has garnered a lot of attention in recent weeks because it would get listed on Coinbase. That effectively pushed the price to very high levels, albeit most people know this couldn’t be sustained forever. Ever since trading on Coinbase, BAT has not regained the $0.3 level and continues to fall at an alarming rate.
The past 24 hours have not provided any relief for BAT holders either. In fact, things continue to grow progressively worse, which is not exactly shocking either. In the case of the Basic Attention Token price, there is another 7.5% loss in USD value, as well as a 6% drop over both Bitcoin and Ethereum. The pump has legitimately come to an end, and damage control appears non-existent.
For those who want to look for arbitrage opportunities, Basic Attention Token is well worth keeping an eye on. There is a direct trading opportunity between CoinDCX and CoinDelta, although it will not remain in place for a very long time. Even so, those who want to exploit this price gap can make some good money by buying into a falling currency.
Hurry! 10% direct arbitrage in #BAT.
If you buy BAT in BTC market from #CoinDCX and sell it on #CoinDelta in INR market, you can make a profit of 10%.— KoinKnight (@KoinKnight) November 11, 2018
Thankfully, some people look at Brave and BAT for what it is trying to achieve, rather than just the price itself. Soupernerd confirms the Brave browser has a ton of potential, and the Basic Attention Token integration only makes it more appealing. Even so, users need to figure out ways to earn these tokens, which is one of the project’s main selling points.
So far @brave browser is amazing and youtube feels like it used to.
Refreshing. Now I just need "earn #BAT for allowing advertisements" function to release so I can check it out!
Maybe with a scale of 1-10 of what threshold of ads I'm willing to have in the browser.
Nice Job. pic.twitter.com/BFPDOlo1hU
— SouperNerd 𓅓 (The Jinn Who Loves You) (@SouperNerd) November 11, 2018
For those who want to look at technical indicators, there does not appear to be something to be excited about just yet. The expected support level of 4.158 Satoshi has fallen in very quick succession, thus a descent to 2.753 Satoshi is not unlikely. That would represent another 30% price drop for BAT, which is quite worrisome.
#BAT
The first zone from which growth can begin – 4158 sats, if buyers show interest, the correction will end at this level, and if it breaks down, a long descending movement of up to 2753 sats is waiting for us.#altcoins #trade #chart #ta #fa #short #long #coinbase #list $BAT pic.twitter.com/vpRjxvY56a— Bullish Power
(@bullishpower) November 11, 2018
All of the signs point toward further pressure on the Basic Attention Token price. It is not something investors want to see, but there is nothing one can do about this situation under the current circumstances. For now, it may be best to avoid this market altogether and wait for an even lower price to buy in.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.
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by JP Buntinx via NullTX